Latest News


Keyword Search

RegionB

Europe / Middle East / Africa

Dangote Cement plans London listing-FT

Apr, 02 2012


(Nigeria/London) -- Africa's richest man Aliko Dangote plans to list his $11 billion cement business, Dangote Cement, on the London Stock Exchange next year, the Financial Times reported in Monday.

Dangote is cited by the FT as saying he intends to free-float a 20 percent stake in Dangote Cement to finance its rapid expansion.

"We want to list in London next year. By then the upside to our business will be much bigger than today," Dangote is quoted as saying.

Morgan Stanley and JPMorgan have been appointed as co-leads for the London share issue, according to the FT.

Dangote is cited as saying the company was on track to meet the corporate governance requirements for a premium listing, and that he would give up his current role as chairman.

Source:

Bookmark and Share
Comments
0 Comment(s)
Add Your Comments


Allen Co Quarry opponents sue over rezoning vote

Opponents of Allen Co’s proposed limestone quarry in Boonesborough, Kentucky, have filed suit in Clark Circuit Court to overturn the rezoning of the site More

Canada: Toromont’s equipment group jumps 16% in second quarter

Toromont Industries, which owns the Caterpillar dealership for Ontario, Manitoba, Newfoundland and Labrador, posted US$384.8m (CDN $415.6m) in its second quarter revenues, an 11-percent increase compared to a year ago More

Advertise Here